American information and measurement company Nielsen Holdings NV has formed a joint venture with local research firm Myanmar Marketing Research & Development Co Ltd (MMRD) in a bid to provide their clients with Myanmar marketplace and consumer behavior information, the companies announced.
The joint venture entity, Nielsen MMRD, will see the two organisations combine their capabilities to “help companies which are established in Myanmar or have plans to enter the market to understand the market and consumer dynamics,” the companies said in a joint statement.
“With a population of over 56 million, Myanmar is the second largest country in ASEAN and one of the last remaining untapped frontiers for our clients, and we look forward to working closely with the MMRD team to help our combined client base gain the deepest insight into Myanmar’s marketplace and consumers,” Suresh Ramalingam, Nielsen’s Managing Director of Thailand and Vietnam Cluster.
“We are excited to begin this collaboration with MMRD, a highly‐respected and well‐established market research firm in Myanmar.”
U Moe Kyaw, Nielsen Senior Advisor and Managing Director of MMRD, said his firm views the joint venture arrangement as a pivotal opportunity to realise its vision to deliver wider international exposure to its clients while broadening the depth of its services.
“We’ve seen a substantial increase in demand for insights on Myanmar, evidenced by the 88.5 percent net growth in market research reported by ESOMAR, and we are now much better‐positioned to help our clients here and abroad to understand our unique marketplace.”
U Moe Kyaw said recent political reforms coupled with a large, young population and healthy economic outlook make Myanmar a highly attractive market.
“The market is shifting rapidly, however, with burgeoning media usage and evolving purchasing behaviour. Staying abreast of changing consumer habits will be a critical success factor for local and multinational companies alike in the years ahead.”
Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA, and Diemen, the Netherlands. Nielsen is active in over 100 countries and employs approximately 35,000 people worldwide, with total revenues of $5.7 billion in 2013.
MMRD was established in 1992 and was Myanmar’s first market research agency. It has 250 research professionals in 13 regional offices throughout the country.